Selling naked options and naked shorting are not the same thing.
Naked shorting (which is illegal) is the practice of short selling shares that have not been positively determined to be obtainable by the short seller. In the case of GME, the short position was at 140% of the total shares outstanding, so at least 40% of the shorting had to be naked shorting.
These hedge-fund fucks got greedy and instead of getting burned, they're getting bailed out by the brokerage houses.
seriously wtf is he talking about. Naked selling options is stupid most the time, but definitely not illegal
Selling naked options and naked shorting are not the same thing.
Naked shorting (which is illegal) is the practice of short selling shares that have not been positively determined to be obtainable by the short seller. In the case of GME, the short position was at 140% of the total shares outstanding, so at least 40% of the shorting had to be naked shorting.
These hedge-fund fucks got greedy and instead of getting burned, they're getting bailed out by the brokerage houses.
So as long as I'm wearing underpants I can trade?